4 ms·
Deregulation to allow building more of all housing types is the only answer. Funding more public housing will just add a trickle of liquidity to a market that h
by swalling 3y ago
Deregulation to allow building more of all housing types is the only answer. Funding more public housing will just add a trickle of liquidity to a market that has been in drought for decades.
Take San Francisco. A huge proportion of the housing stock is rent-controlled (everything pre 1979) to try and make it accessible price-wise to low income renters, effectively forcing a ton of housing stock to lock in artificially low prices the same as public housing. This hasn't fixed it, and may have made it worse due to perverse incentives for landlords / building owners. Meanwhile it remains arguably the most difficult major city in North America to build new housing in, especially infill on existing residential properties.
I moved back to Portland, OR the last few years, and the pace of housing development and policy is dramatically better. Single family zoning is illegal. You have people in rich neighborhoods adding ADUs like crazy, and developers knocking down outdated single family homes to increase density in desirable neighborhoods. New mixed use buildings are springing up all along major transit corridors in walkable/bikeable neighborhoods. Prices for new homes and luxury apartments are inaccessibly high, but all of this takes pressure off the low end of rental stock. There is also public housing being built, but it is monumentally dwarfed by private development.